North Cincy News

The REALTOR® Alliance of Greater Cincinnati has released its latest market review for July 2024, revealing significant growth in several key regional areas. The data for Hamilton, Butler, Warren, and Clermont counties indicates a robust real estate market, with notable increases in median sales price, active inventory, and closed sales.

The median sales price for single-family residences across the four counties rose to $314,725, marking a 1.5% increase from June 2024 and an 8.5% rise compared to July 2023. Active inventory saw a substantial 16.1% increase, totaling 2,205 homes, while new listings surged by 20.8% compared to 2023, indicating strong seller confidence.

“These numbers reflect a resilient and thriving market,” said Tracy Dunne, President of the REALTOR® Alliance of Greater Cincinnati. “Despite some fluctuations in the broader economy, the real estate market in our region continues to show strength, offering opportunities for both buyers and sellers.”

Closed sales for July 2024 also saw a positive trend, with an 8.2% increase from the previous month and a significant 4.9% rise year-over-year. However, the report also highlighted a slight decrease in the list price received, which dropped by 0.3% compared to June 2024 and 1.0% from July 2023. Despite this minor dip, the overall market conditions remain favorable, supported by a 7.2% increase in the months’ supply of inventory, now at 1.2 months.

“The increase in inventory is a crucial factor for maintaining balance in the market,” added Dunne. “It helps to ensure buyers have options while sellers continue to benefit from rising home values.”

REALTOR® Alliance of Greater Cincinnati has provided graphics to allow members of the public to view several market performance metrics such as units sold, closed prices, number of listings, and more. For additional information contact Shawn Maus at smaus@cincyrealtoralliance.com.

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